Who needs Cyber Insurance?
If you use the internet, at some stage, you will be attacked.
Expectations for 2016 are that 4 out of every 5 organisations will suffer a data breach that directly impacts on revenue . However given these statistics, a vast majority of companies are more likely to buy fire insurance than they are to buy a Cyber policy .
Cyber-attacks are events like: Denial of Service that shuts down your internet access, Cyber Spying or stealing your client information, Cyber Extortion i.e. locking you out and holding you to ransom and Point of Sale Intrusion. You can insure against this.
What is included in Cyber Insurance?
A Cyber policy will cover:
- Repair and restoration of computer systems.
- Cyber extortion costs (including ransom payments to hackers).
- Costs incurred to manage a crisis.
- Notification costs (to your affected clients).
- Public relations and legal representation expenses.
- Claims for compensation by third parties.
- The loss of business income resulting from the incident.
With premiums starting from as little as $250 contact R&M Insurance Brokers to review your circumstances
P: 02 4962 4888
** This is a guest blog article by R&M Insurance Brokers